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20130103
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's largest oil producer by 2020. ben tracy visited one of america's new boomtowns. >> reporter: in the middle of a colorado cornfield, sandwiched between cattle and farmhouses, is the front line of an american oil boom. >> we plan to invest over $8 billion over the next five years here, so we're extremely excited. >> reporter: mike dickinson works for noble energy, which is doubling its production in weld county. this oil field stretches from colorado into wyoming. in 2008, it produced 83,000 barrels of oil, yet this year it is expected to reach nearly ten million barrels. how different is the technology that we're seeing here today versus what you were doing out here a couple of years ago? >> it's unrecognizable today compared to what we were doing just two or three years ago. >> reporter: oil companies used to mainly drill vertical wells, hitting one pool of oil. but now they are rapidly converting to horizontal wells up to a mile long and combining them with fracking operations which split open rocks, releasing oil once considered out of reach. and one drilling rigs can now install multipl
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